Kohan typically purchases underperforming malls and works to make them profitable and successful once more. Prescott Mayor Greg Mengarelli has been in touch with Kohan, according to a press release from the city. Mengarelli says Kohan is satisfied with the good condition of the mall, which was built 15 years ago, and he is open to both retail and non-retail uses to encourage foot traffic. This may include special event venues, offices and more.

“I am excited about this new chapter for the Gateway Mall,” said Mengarelli. “We look forward to working with Mr. Kohan and his company to revitalize this important property.”

The plans or a Hotshot “education center” remain unchanged, with Kohan agreeing to a provision for the museum, which will display memorabilia honoring the 19 Granite Mountain Hotshots who perished in the Yarnell Hill Fire on June 30, 2013.